mwalcoff

I am going to be in Canada for at least nine months, coming from the U.S. What is the
easiest way to open a bank account in Canada and transfer funds from a U.S. account
into it? -- Matt

Fred Grosby

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I opened my account in person, using travelers checks for the initial deposit. You
could possibly use a cashiers check, but I've heard stories of the funds being held
for much longer than it takes for the check to clear. And whatever you do, DO NOT use
a personal check from your US bank!

--
Fred Grosby [email protected] http://www.canwine.com/fandl/fred.html

Z

Regarding the following:

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... Why not ? What might the problems be regarding this ?

Thank you.

Zaq.

Fred Grosby

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[usenetquote2]>> And whatever you do, DO NOT use a personal check from your US bank![/usenetquote2]
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A Canadian bank will put a hold on those funds for a lengthy period of time, much
longer than it takes for the check to clear. When I asked about it, I was told by
Bank of Montreal that the hold would be for three weeks, and that was in an account I
had had for several months.

If one is moving to a new place, one needs immediate access to one's money, not a
three-week wait while the bank makes money on the float.

--
Fred Grosby [email protected] http://www.canwine.com/fandl/fred.html

JustinHJ

They will probably decline if you say you are here for 9 months. You need proof
of income in Canada, proof of a job and visa status, and good credit, you
should be fine.

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Fred Grosby

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That doesn't sound right. I opened a bank account in Canada *years* before I moved
here. No problem; just showed my passport.

Now if you're talking about getting credit, that's another story.

[usenetquote2]>> I am going to be in Canada for at least nine months, coming from the U.S. What is[/usenetquote2]
[usenetquote2]>> the easiest way to open a bank account in Canada and transfer funds from a U.S.[/usenetquote2]
[usenetquote2]>> account into it? -- Matt[/usenetquote2]
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--
Fred Grosby [email protected] http://www.canwine.com/fandl/fred.html

JustinHJ

I needed proof of address in Canada and proof of income to open a bank account with
no credit facilities. I guess all financial institutions vary.

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[usenetquote2]> >They will probably decline if you say you are here for 9 months. You need proof of[/usenetquote2]
[usenetquote2]> >income in Canada, proof of a job and visa status, and good[/usenetquote2]
credit,
[usenetquote2]> >you should be fine.[/usenetquote2]
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[usenetquote2]> >> I am going to be in Canada for at least nine months, coming from the U.S. What[/usenetquote2]
[usenetquote2]> >> is the easiest way to open a bank account in Canada and transfer funds from a[/usenetquote2]
[usenetquote2]> >> U.S. account into it? -- Matt[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
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Fred Grosby

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Apparently so, or perhaps requirements have become more stringent. I opened my
account with Bank of Montreal in 1994.

--
Fred Grosby [email protected] http://www.canwine.com/fandl/fred.html

Matthew East

Hi, we just walked in off the street and opened one with $40 cash and 3 pieces of ID.
And that was with a UK address. Matt.

mwalcoff <[email protected]> wrote in article

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